Deal / AcquisitionInfrastructure20/11/2022
GeelongPort consortium acquisition
Stonepeak →Stonepeak and Spirit Super signed an agreement in November 2022 to acquire GeelongPort, with Stonepeak's managed funds and accounts holding 70% and Spirit Super 30%. The official portfolio dates the investment to April 2023 and identifies the pension partner today as CareSuper, formerly Spirit Super. GeelongPort is a diversified landlord port in Victoria, approximately 75 kilometers southwest of Melbourne. It has 15 berths across Corio Quay and Lascelles Wharf and supports regional trade through road, rail and channel access. Gresham Partners advised the consortium, King & Wood Mallesons supplied legal advice and Clayton Utz supplied tax advice. Purchase consideration was not disclosed in the announcement.